VCIC’s PoC Competition: Funding Gets Cooler With Vietnam Startups

Following Kenya, Ethiopia and Carribeans, the Vietnam CIC is the latest Climate Innovation Center developed by infoDev (part of the World Bank), in partnership with the Asian Development Bank. The Vietnam CIC should be launching in Fall 2014, and a Proof-of-Concept (PoC) Competition has now been launched in order to establish a pipeline of future clients of the future Vietnamese incubator.The competition will see an exciting arrangement of eco-business proposals and grant funding of up to VND 1,000,000,000 (around USD $48,000).

The aim of the competition is to identify 30 applicants with startups (product or service) that involve the climate change mitigation and/or adaptation situation in Vietnam. The competition is still in its submission stage and Vietnam startups with roots in environmental causes are encouraged to join the action-packed event. Applicants will submit proposals for an innovative product, service, or business model in one of the following categories:

1. Energy efficiency
2. Biofuels and biomass
3. Sustainable agriculture
4. Adaptation technology
5. Transportation technology
6. Renewable energy technology
7. Water management and purification
8. Other climate technology businesses

Startups can enter the competition through different mediums, such as online applications at their Incubator Portal, or an offline form submitted through email or physical mail. All the forms and information are currently available in English and Vietnamese, and they can be accessed here.

These applicants will be able to attend an exclusive bootcamp with training to aid the proposal development, financial management, legal aspects of running a business, and investment process of the startup.

Additionally, there will be mentors involved to prepare the final structure of the proposal for submission to the VCIC. Successful applicants will then get to showcase their innovative concepts at the official VCIC launch, and become eligible for entrance into the Climate Innovation Centre program and access a full range of advisory, partnership and support services, and follow-on funding!

Past ventures of the CIC program has seen a range of successful environmental additions proving to make an impact on their respective locations. For example, Cocatech is a simple portable plug and play solar home system used for lighting and powering technician sets. This will help the lower income families to afford a renewable energy solution and reduce the use of kerosene for lighting and generators, which in turn will reduce the harmful Co2 (Carbon Dioxide gas) emissions.

Keekonyoike is another project under the program with the intention of turning slaughterhouse waste into packaged gas cylinder biogas for renewable usage. The biogas can then be used to generate electrical power for the meat cold room, meat processing equipment and hot water for sterilizing and washing the abattoir. By redirecting the excess biogas, they turned it into a portable energy source that is affordable to the local community.

Vietnam’s startup scene is growing, and with the PoC Compeititon’s involvement, it will see a meaningful opportunity with both resources and funds to aid national development. We encourage you to find out more about the competition here, and spread the word along for a cause that will leave an impact!